Features International Sugar Journal

Monthly Snapshot May [Full subscriber]

Market Overview As expectations for a global supply surplus mount, money managers have reduced their bets on a sugar rally for six straight weeks, the longest streak since August 2014. In their latest quarterly report, Rabobank forecasts 2017/18 surplus of 2 mln to 3 mln tonnes. The retrenchment has helped drive futures in New York down about 14% this year, among the biggest losses of the 22 components tracked by the Bloomberg Commodity Index. Futures slumped to an 11-month low in early April on disappointing imports (half million only – the market was expecting much more) by top consumer India, a…

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